Problem Three

Prepare journal entries for each of the following independent situations:

A$.$ Declared a $$0\mathrm{.}50$ per share cash dividend on $100,000$ shares of preferred stock outstanding.

B$.$ Declared and distributed $($on the same day$)$ a $100\%$ stock dividend $($dividend paid in stock, not in cash$)$ on $800,000$ shares of $$4$ par value common stock outstanding. Market price per share on this date was $$25.$